SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 13, 2020
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Item 8.01. Other Events.
Altaba Inc. (the Fund) announced that, in connection with its previously announced Plan of Complete Liquidation and Dissolution, on January 13, 2020, the Fund began selling its remaining holdings of Alibaba Group Holding Limiteds American Depositary Shares (the Alibaba Shares), commencing with the sale on such date of 1,000,000 Alibaba Shares at an average price per Alibaba Share of $229.00 for total proceeds of $229 million. The Fund currently anticipates completing the sale of all of such Alibaba Shares in the coming days and intends to report its sales activity daily on its website, www.altaba.com. The actual timing, volume and prices of any such sales remain at the Funds discretion.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This document contains forward-looking statements concerning the Funds intention to sell its remaining Alibaba Shares. Without limiting the foregoing, words or phrases such as will likely result, are expected to, will continue, anticipate, estimate, project, believe, intend or similar expressions are intended to identify forward-looking statements. These statements are not statements of historical facts and do not reflect historical information. Forward-looking statements are subject to numerous risks and uncertainties and actual results may differ materially from those statements. Such risks and uncertainties relate to, among other things, the ability of the Fund to sell the Alibaba Shares at times, in amounts and at prices consistent with the Funds intentions. Further information regarding the risks, uncertainties and other factors that could cause actual results to differ from the results in these forward-looking statements are discussed under the section Risk Factors in the proxy statement filed with the U.S. Securities and Exchange Commission on May 17, 2019, as supplemented. The forward-looking statements included in this document are made only as of the date hereof.
The Fund does not undertake any obligation to update or supplement such forward-looking statements to reflect events or circumstances after the date hereof, except as required by law. Because the Fund is an investment company, the forward-looking statements and projections in this press release are excluded from the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Title:||General Counsel and Secretary|
Date: January 13, 2020